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Liberty Reserve -- A Viable Paypal Alternative?

Discussion in 'Making Money' started by blachhattin, Nov 18, 2011.

  1. blachhattin

    blachhattin Newbie

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    Hey guys, I've been looking into Paypal alternatives, and I want to know if Liberty Reserve is a viable option to both save money and protect my money.

    I know very little about it, only a little about how it works.

    Can anyone provide their personal experience with it please, with SPECIFICS?

    I don't like the idea of a company that acts like a bank (Paypal) having near total control of my finances. I much prefer anonymity, low fees, staying away from prying eyes, that sort of thing. But I'll take prying Paypal eyes over getting scammed out of potentially thousands and thousands of dollars.

    Is this all done online?

    Are there brick and mortar "exchangers"?

    Anyone with extensive LR experience, please post! And let us know what amounts of $ you typically move.

    Side note, this bit coin stuff is a 100% scam, the same premise is destroying the US economy (that "money" can be based on a "promise" and not a hard asset), so please none of that.

    Thanks!
     
  2. frozenocean

    frozenocean Junior Member

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    Any thing you use u can make transactions. That does not mean it is a viable paypal alternative. paypal alternative is that which can be used instead of paypal to accept paypal. Or a system where you can accept payments from the most of the users. U cant take payments from the most without paypal. So if you can accept paypal and pay low fees and the provider is reliable it could be a good paypal alternative. If you can pay to paypal that is great. But there are no such. You can found some like 2co or plimus for accepting paypal. They all charges a lot.
     
  3. drnick2

    drnick2 Junior Member

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    Check out Dwolla, they charge only 25 cents per transaction no gimmicks. check out there website for more info just add .com after their name.
     
  4. 4bothis

    4bothis Junior Member

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    webmoney is pretty anon and very popular in russia and eastern europe
     
  5. scrapebrokers

    scrapebrokers Regular Member

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    I was looking into libertyreserve myself for adding as a payment option on my site. Personally I have mixed feelings about it because

    1) You need an exchanger to add or withdraw money from your account. Exchange fees are near 5-6%. So if you plan to add $100 and then withdraw you are loosing at least 10% in fees.
    2) There is no chargeback and they act on the get payed stay payed rule. For sellers that sounds good but what if you are a buyer ?! Also i see is used by a lot of people from Nigeria, China and other countries where paypal is not accepted. I don't want to say more and try to remain political correct but there is a fact in this countries the fraud rate is quite high.

    3) Accounts security. check this article http://www.lrexchange.com/blog/how-libertyreserve-accounts-are-hacked Personally made me stay away from it
     
    • Thanks Thanks x 2
  6. Derkach

    Derkach Newbie

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    Can anyone please suggest legit paysafecard to LR exchanger ?
     
  7. koconder

    koconder Junior Member

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    Moneybookers/Skrill, 2checkout and Google Checkout are good options if your making sales... Webmoney and LR is just a huge pain in the ass to cashout!
     
  8. tukim

    tukim Regular Member

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    Liberty Reserve doesn't let you withdraw funds as mentioned before, the only reason I never used it. You can look into AlertPay or Serve for an alternative similar to PayPal.